NGX Daily Market Summary – Tuesday, September 9, 2025
Today’s market session closed positive, with the NGX All-Share Index (ASI) advancing by +0.29% to settle at 139,394.75 points. This brings the year-to-date (YTD) return to +35.49%, showing that the equity market continues to deliver strong gains in 2025.
However, despite the positive close, overall market turnover dipped by -34.78%, recording just ₦10.58 billion in value. This means fewer big trades happened compared to previous sessions, and trading volume was also weaker.
Market Breadth and Participation
• Market breadth was strong, with 37 stocks gaining against 23 stocks losing, giving a breadth ratio of 1.61x. This shows that more stocks advanced than declined.
• Trading volumes were mixed: 54 companies saw higher volumes, while 88 saw lower volumes.
• Some stocks experienced unusual spikes in trading activity far above their normal averages. Notably:
• FCMB (+230% vs. its 90-day average)
• MECURE (+412%)
• CHELLARAM (+813%)
These spikes often signal either institutional repositioning (big players adjusting their portfolios) or speculative trading.
When we look at who was driving the market:
• Institutional investors dominated, accounting for nearly 70% of total trading volume and an even larger 85.9% of total value.
• Retail investors were very active by count (over 63% of transactions) but contributed less than 15% in value. This means small investors were following the trend, but the “big money” was making the market move.
Top Gainers of the Day
• Regency Alliance Insurance (REGALINS): Closed at ₦1.43, up +10.00%. This stock has been enjoying sustained momentum in 2025, and with a solid dividend yield, it continues to attract investors.
• E-Tranzact International (ETRANZACT): Closed at ₦12.40, gaining +9.73%. Strong demand and consistent momentum placed it among the day’s leaders.
• MECURE Industries (MECURE): Rose +9.92% to ₦21.60 despite being volatile in recent weeks.
• Daar Communications (DAARCOMM): Advanced +9.57% to ₦1.03, supported by strong volume.
• Deap Capital (DEAPCAP): Added +9.52%, ending at ₦1.84.
Top Losers of the Day
• Meristem Growth ETF (MERGROWTH): Dropped the most, sliding -10.00% to ₦414.90. Despite being positive YTD, it remains volatile.
• Unilever Nigeria (UNILEVER): Fell -9.79% to ₦63.15, dragged down by weak sentiment.
• FTN Cocoa Processors (FTNCOCOA): Declined -9.40% to ₦5.40 after a strong YTD rally, showing possible profit-taking.
• Ellah Lakes (ELLAHLAKES): Shed -8.76%, closing at ₦13.02.
• Linkage Assurance (LINKASSURE): Lost -6.85%, settling at ₦2.04.
5-Day and Year-to-Date Highlights
Some stocks have shown consistent strength, appearing both in the daily leaders and YTD top performers:
• Regency Alliance Insurance (REGALINS)
• Royal Exchange (ROYALEX)
• AIICO Insurance (AIICO)
• E-Tranzact (ETRANZACT)
This consistency suggests sector-wide momentum, particularly in insurance and financials, where investors are chasing both capital gains and dividend yields.
On the other hand, some ETFs and bond funds such as VETIVA S&P Bond ETF and Greenwich Asset ETF are among the biggest YTD laggards, reflecting investors’ shift away from fixed income towards equities.
Key Themes Emerging Today
1. Insurance & Financials Driving the Market:
The sector is leading both in price performance and dividend attractiveness. Companies like REGALINS, AIICO, LASACO, and ROYALEX are delivering not just capital appreciation but also solid yields.
2. Institutional Herding in Financials:
Big money concentrated in stocks like ZENITH, GTCO, UBA, and ACCESSCORP, driving both liquidity and sentiment. Retail investors are following these moves, but this also means they risk being “trapped” if institutions take profits suddenly.
3. Volume as a Signal:
Surges in FCMB, MECURE, and CHELLARAM suggest accumulation or repositioning—investors should watch these for follow-through moves.
4. Rotation from Bonds/ETFs to Equities:
Weakness in bond ETFs like VSPBONDETF shows funds are flowing into equities, adding fuel to the stock market rally.
5. Contrarian Setups:
Stocks like MECURE and CHAMPION dipped today despite solid YTD strength—offering potential short-term rebound plays for nimble traders.
Takeaway for Investors
The Nigerian stock market remains in a strong uptrend, led by insurance and financial stocks, where both institutional and retail investors are focused. Dividend-paying insurance stocks are particularly attractive now, offering a rare combination of income and growth.
However, caution is warranted. Since institutions are driving most of the trade value, retail investors should avoid chasing overextended moves and instead watch for opportunities to buy during pullbacks or when unusual volumes signal fresh accumulation.
Today’s market session closed positive, with the NGX All-Share Index (ASI) advancing by +0.29% to settle at 139,394.75 points. This brings the year-to-date (YTD) return to +35.49%, showing that the equity market continues to deliver strong gains in 2025.
However, despite the positive close, overall market turnover dipped by -34.78%, recording just ₦10.58 billion in value. This means fewer big trades happened compared to previous sessions, and trading volume was also weaker.
Market Breadth and Participation
• Market breadth was strong, with 37 stocks gaining against 23 stocks losing, giving a breadth ratio of 1.61x. This shows that more stocks advanced than declined.
• Trading volumes were mixed: 54 companies saw higher volumes, while 88 saw lower volumes.
• Some stocks experienced unusual spikes in trading activity far above their normal averages. Notably:
• FCMB (+230% vs. its 90-day average)
• MECURE (+412%)
• CHELLARAM (+813%)
These spikes often signal either institutional repositioning (big players adjusting their portfolios) or speculative trading.
When we look at who was driving the market:
• Institutional investors dominated, accounting for nearly 70% of total trading volume and an even larger 85.9% of total value.
• Retail investors were very active by count (over 63% of transactions) but contributed less than 15% in value. This means small investors were following the trend, but the “big money” was making the market move.
Top Gainers of the Day
• Regency Alliance Insurance (REGALINS): Closed at ₦1.43, up +10.00%. This stock has been enjoying sustained momentum in 2025, and with a solid dividend yield, it continues to attract investors.
• E-Tranzact International (ETRANZACT): Closed at ₦12.40, gaining +9.73%. Strong demand and consistent momentum placed it among the day’s leaders.
• MECURE Industries (MECURE): Rose +9.92% to ₦21.60 despite being volatile in recent weeks.
• Daar Communications (DAARCOMM): Advanced +9.57% to ₦1.03, supported by strong volume.
• Deap Capital (DEAPCAP): Added +9.52%, ending at ₦1.84.
Top Losers of the Day
• Meristem Growth ETF (MERGROWTH): Dropped the most, sliding -10.00% to ₦414.90. Despite being positive YTD, it remains volatile.
• Unilever Nigeria (UNILEVER): Fell -9.79% to ₦63.15, dragged down by weak sentiment.
• FTN Cocoa Processors (FTNCOCOA): Declined -9.40% to ₦5.40 after a strong YTD rally, showing possible profit-taking.
• Ellah Lakes (ELLAHLAKES): Shed -8.76%, closing at ₦13.02.
• Linkage Assurance (LINKASSURE): Lost -6.85%, settling at ₦2.04.
5-Day and Year-to-Date Highlights
Some stocks have shown consistent strength, appearing both in the daily leaders and YTD top performers:
• Regency Alliance Insurance (REGALINS)
• Royal Exchange (ROYALEX)
• AIICO Insurance (AIICO)
• E-Tranzact (ETRANZACT)
This consistency suggests sector-wide momentum, particularly in insurance and financials, where investors are chasing both capital gains and dividend yields.
On the other hand, some ETFs and bond funds such as VETIVA S&P Bond ETF and Greenwich Asset ETF are among the biggest YTD laggards, reflecting investors’ shift away from fixed income towards equities.
Key Themes Emerging Today
1. Insurance & Financials Driving the Market:
The sector is leading both in price performance and dividend attractiveness. Companies like REGALINS, AIICO, LASACO, and ROYALEX are delivering not just capital appreciation but also solid yields.
2. Institutional Herding in Financials:
Big money concentrated in stocks like ZENITH, GTCO, UBA, and ACCESSCORP, driving both liquidity and sentiment. Retail investors are following these moves, but this also means they risk being “trapped” if institutions take profits suddenly.
3. Volume as a Signal:
Surges in FCMB, MECURE, and CHELLARAM suggest accumulation or repositioning—investors should watch these for follow-through moves.
4. Rotation from Bonds/ETFs to Equities:
Weakness in bond ETFs like VSPBONDETF shows funds are flowing into equities, adding fuel to the stock market rally.
5. Contrarian Setups:
Stocks like MECURE and CHAMPION dipped today despite solid YTD strength—offering potential short-term rebound plays for nimble traders.
Takeaway for Investors
The Nigerian stock market remains in a strong uptrend, led by insurance and financial stocks, where both institutional and retail investors are focused. Dividend-paying insurance stocks are particularly attractive now, offering a rare combination of income and growth.
However, caution is warranted. Since institutions are driving most of the trade value, retail investors should avoid chasing overextended moves and instead watch for opportunities to buy during pullbacks or when unusual volumes signal fresh accumulation.